Alkhaleej Training extends MoU to acquire 85% of Al-Enjaz Schools

A branch of Alkhaleej Training and Education Co.

Alkhaleej Training and Education Co. inked a non-binding memorandum of understanding (MoU) with Al-Enjaz National Schools Co. Ltd to acquire 85% of the latter, the company said in a bourse filing.

The MoU will be effective as of the signing date, June 29, and will extend for 90 days, renewable with the consent of both parties.

Al-Enjaz National Schools Co. is a Saudi limited liability company (LLC) based in Makkah and owned by one person.

Adeem Capital was named as the financial advisor of the deal.

The two parties also agreed to determine the final value of the deal after completing the due diligence.

The proposed acquisition is subject to the approvals of the competent regulatory authorities.

Updates will be duly revealed, and the deal includes no related parties, the statement added.

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